Transparency Market Research has released a new market research report titled Crude Oil Desalter Market (By Type – Single Stage Crude Oil Desalter, Two Stage Crude Oil Desalter, and Three Stage Crude Oil Desalter) – Global Industry Analysis, Size, Share, Growth Trends, and Forecast, 2015 – 2023.
Albany, NY -- (SBWIRE) -- 08/27/2015 -- According to the report, the global crude oil desalter market stood at USD 78.42 Million in 2014 and is likely to reach USD 98.78 Million by 2023, expanding at a CAGR of 2.54% between 2015 and 2023.
The global crude oil desalter market was dominated by Middle East & Africa in 2014. Demand for crude oil desalter is anticipated to be high in the region due to the increasing number of refineries. A crude oil desalter is important as it protects equipment in a refinery from corrosion and abrasion by removing salts and impurities in crude oil. Many countries such as Saudi Arabia and the UAE are increasing their refining capacity to reduce imports and to become net exporters of refined products.
This has led to an increase in the demand for crude oil desalters for refineries. Factors such as construction of new refineries (in Saudi Arabia, UAE, and Algeria) and expansion of existing refineries are anticipated to boost the desalter market in Middle East & Africa in the near future. However, currently, declining crude oil prices have hampered the growth of the crude oil desalter market in the region. Saudi Arabia is the market leader in terms of refinery capacity in Middle East & Africa, with around nine refining complexes and three new planned refining facilities.
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Asia Pacific was the second-largest market globally for crude oil desalters in 2014. Two stage crude oil desalters accounted for the major share of the market in Asia Pacific in 2014. Asia Pacific is anticipated to be the second-fastest growing market for crude oil desalters during the forecast period. Rising investments for new refinery construction and expansion of existing refinery facilities in countries such as China and India are anticipated to augment the crude oil desalter market in Asia Pacific.
The refining capacity in North America is increasing due to rising demand for petroleum products. Production from refineries in the U.S has increased owing to the shale boom. Growth in the number of refineries and, in turn, the crude oil desalters market in North America is primarily driven by increasing exports of refined petroleum products to other countries. Growth in the crude oil desalter market in Europe is anticipated to be sluggish due to a few number of new refinery projects in pipeline. Latin America accounted for the least market share of the global crude oil desalter market in 2014.
Key participants in the global crude oil desalter market include Agar Corporation Ltd., Cameron International Corporation, Canadian Petroleum Processing Equipment Inc., Croda International Plc., EN-FAB Inc., Forum Energy Technologies Inc., GasTech Engineering Corporation, Komax Systems Inc., Mackenzie Hydrocarbons Pty Ltd., and Petro Techna International Ltd. The report provides an overview, financial revenues (on availability), business strategies, and recent developments of these companies.
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The global crude oil desalter market has been segmented as follows:
Global Crude Oil Desalter Market: Type Analysis
- Single Stage Crude Oil Desalter
- Two Stage Crude Oil Desalter
- Three Stage Crude Oil Desalter
Global Crude Oil Desalter Market: Regional Analysis
- North America
- Asia Pacific
- Middle East & Africa
- Latin America
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